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Rental house remodel
We did some work in our rental house ($12K) to include installing flooring, painting, new countertop in the kitchen, backsplash, new vanities in the bathroom. No new appliances. I only have one cost as this included parts and labor. Can I just enter one entry as a remodel for $12K under assets? I tells me I can take a $2K deduction every year for 5 years. Is the the right way to do it? Should these improvments always be depreciated?
Thanks
‎April 28, 2021
12:46 PM